AUDUSD – Possible 5 waves move in making

11AUDUSD 6020170118093704

AUDUSD move up from 12/23 low is extending and as pair keeps extending higher with shallow pull backs, it looks like the move up from 12/23 low is unfolding as an Elliott wave impulse when pair is still in wave 3. Rally to 0.7356 is labelled as wave 1 and dip to 0.7283 is labelled as wave 2. Up from there wave 3 remains in progress towards 0.7582 - 0.7629 area. Once wave 3 is complete, expect the pair to pull back in wave 4 to correct the cycle from red 2 low and turn higher in wave 5 to … [Read more...]

GBPUSD Elliott Wave Forecast 1.13.2017

GBPUSD 6020170112210917

GBPUSD is showing a 5 swing bearish sequence from 12/6 peak (1.277) which favors more downside. The decline from 12/6 peak is unfolding as a double three where wave (W) ended at 1.2198 and wave (X) ended at 1.2432. GBPUSD has since broken below wave (W) at 1.2198 which suggests that the next leg Wave (Y) has already started to the downside. Internal of wave (Y) is unfolding as a double three where wave W ended at 1.2037 and wave X bounce is proposed complete at 1.2317. Near term, while bounces … [Read more...]

GBPUSD: Elliott Wave Analysis calling for new lows

GBPUSD Video thumb

GBPUSD preferred Elliott wave structure suggests pair is in an Ending Diagonal structure where wave ((4)) completed on 12/6 at 1.2775. Each sub-wave of a diagonal pattern sub-divides in 3, 7 or 11 swings. As the chart below shows, wave (W) of ((5)) completed at 1.2198 followed by a 3 wave bounce to 1.2432 which completed wave (X). This bounce failed in 100 - 123.6% extension area of W-X (1.2390 - 1.2435) and offered a selling opportunity there. Pair has since broken below 1.2198 low and is now … [Read more...]

EURCAD Elliott Wave Plus Bearish Patterns

EURCAD, bearish, Elliott Wave, elliottwave, patterns

EURCAD Technical Analysis January 12/2017 EURCAD 1 hour Elliott Wave count can be calling for more downside and also there are two possible bearish patterns to match the bearish Elliott Wave count. As long as the pair stays below 1.4055 we can expect the pair to continue lower. Both the Elliott Wave and bearish patterns invalidate at 1.4055 and if the pair breaks above this invalidation level we can expect the pair to correct higher. As for now we remain bearish as long as the invalidation … [Read more...]

GBPUSD Elliott Wave Forecast 1.12.2017

GBPUSD 6020170112093724

GBPUSD is showing a 5 swing bearish sequence from 12/6 peak (1.277) which favors more downside. The decline from 12/6 peak is unfolding as a double three where wave (W) ended at 1.2198 and wave (X) ended at 1.2432. GBPUSD has since broken below wave (W) at 1.2198 which suggests that the next leg Wave (Y) has already started to the downside. Internal of wave (Y) is unfolding as a double three where wave W ended at 1.2037 and wave X bounce is in progress as a double three and can reach as high as … [Read more...]

EURJPY Elliott Wave (4) nearing completion

EURJPY 10 January 8 Hour Elliott Wave Analysis

EURJPY has been in a sideways consolidation for the last few weeks and today it broke lower from the consolidation. Many might view it as start of a sustained decline but looking at the choppy nature of the decline from blue (3) peak, we are viewing it as a wave (4) blue pull back of an incomplete 5 wave Elliott wave cycle up from 6/24/2016 low. Wave (4) could unfold as a simple 3 wave pull back, double three, triple three, zig-zag, FLAT or a triangle. In this wave count, wave (4) has taken the … [Read more...]